Tullow Oil will abandon the Cormorant 1 exploration well in the PEL-37 licence offshore Namibia, but data gathered so far suggests the area has potential, the company said on Monday.
Tullow is plugging and abandoning its first well in Namibia after encountering non-commercial hydrocarbons, but gas readings while drilling “continue to support the concept that there is a working oil system in the area”, said Angus McCoss, Tullow’s exploration director.
“We will analyse the data gathered before deciding on any future...
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